Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

APC Commercial > Data Management > Flashcards

Data Management Flashcards

1
Q

What are the 3 principles of GDPR and DPA 2018?

A

Used fairly
Lawfully
Transparently

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What the is the UK’s version of GDPR and what does it do?

A

Data Protection Act 2018. It governs how personal data should be processed and protects the privacy rights of individuals.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are key rights of Data Subjects?

A

-Right to be informed
-Right to Access
Right to Rectification
-Right to Erasure
-Right to restrict processing
-Right to data portability
-Right to object
-Rights related to automated decision making and profiling.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Who is a Data Controller?

A

Someone who determines the purposes and means of processing personal data.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Who is a Data Processor?

A

Someone who processes data on behalf of a data controller.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is a DPIA?

A

Data Protection Impact Assessment. These are required for processing activities that are likely to result in high risk to individuals’ rights and freedoms.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Who oversees compliance with GDPR within an organisation?

A

A data protection officer (DPO). They also act as point of contact for data subjects and supervisory authorities.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

When should a data breach be reported to the relevant supervisory authority?

A

Within 72 hours if they pose risk to individuals’ freedoms and rights.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is the penalty for breaching GDPR?

A

Penalties can reach up to 20m euros or 4% of annual global turnover whichever is higher.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What does the Freedom of Information Act 2000 grant?

A

The act provides public access to info held by public authorities. Aims to promote transparency and accountability.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Who long does a FOIA request take?

A

Public authorities required to respond within 20 working days. Must confirm or deny if they hold requested info and provide the info if its not exempt.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Can authorities charge fees for a FOIA request?

A

Yes but they are regulated. If cost of compliying exceeds set limit (currently £450 for public authorities and £600 for central gov) the authority can refuse request or charge additional fee.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Who is a Data Subject?

A

An individual with whom the personal data relates to.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is copyright?

A

Type of intellectual property that protects original work from being copied.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is intellectual property?

A

Intangible property that is the result of creativity e.g. patents and copyright.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is primary data?

A

Data collected from the data source.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is secondary data?

A

Data collected in past by someone else but made available for others to use.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are some limitations of both primary and secondary data?

A

Primary Data:
-Can be very expensive compared to secondary data.
-Can be time consuming to collect.
-May not be feasible to collect due to complexity and required commitment.
Secondary data:
-May not be authentic and reliable.
-Some data may be exaggerated due to personal bias.
-Sometimes source is outdated.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is the difference between a deed and a registered title?

A

Dead = the physical document that proves ownership
Registered Title = Concept of legal ownership that the deed grants you

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is a firewall?

A

A network security device that monitors and filters incoming and outgoing traffic based on an organisation’s previously established security policies.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

How can you protect your electronic data from viruses?

A

-Keep your system up to date
-Install antivirus software
-Choose strong passwords
-Firewalls

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Do you have a company policy relating to copyright?

A

Yes, a breach of copyright is against the law and every employee should ensure no offence is committed.

All maps from sources will have copyright and this means that we may not use versions without express permission.

As a company we currently have licenses for using Promap and Ordnance Survey maps.

Aerial photos, plans and drawings - Employees are to assume that these items are subject to copyright. Check small print before using.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What is a CRM system?

A

Customer Relationship Management system. Helps manage customer data. For example Alcium.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Explain the benefits of using a CRM vs Excel?

A

Excel negatives:
- Impossible for storing attachments.
-Very limited collaboration amongst colleagues.
-Reporting is manual unlike CRM were reports are updated automatically.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

What does the Limitation Act 1980 state in terms of file records?

A

It states that claims can be brought against Surveyor for up to 15 years from date of negligent act. Files should also be retained for this period.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

What does the Privacy and Electronic Communications Regulations 2003 relate to?

A

Used to supplement GDPR legislation. Sets out more privacy rights on electronic communication. For example there are rules on marketing calls/emails along with cookies.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

What does encryption mean?

A

Its the process of converting information or data into a code to prevent unauthorised access.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What is an Electronic Document Management System?

A

A computerized system to store, share, track and manage files. For example sharepoint.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

How do you process and handle confidential information?

A

Encrypt sensitive files (e.g. input password)
Manage who can access file
Where data no longer required dispose off appropriately.

30
Q

How do you source title information?

A

Use the Land Registry

31
Q

What is a title?

A

An intangible construct which represents bundle of rights to property.

32
Q

What is a deed?

A

A formal document which shows who owns a piece of property.

33
Q

What is VLOOKUP?

A

Means vertical lookup and its a search function on Excel. It allows you to search for a specific value.

34
Q

Are electronic signatures accepted on the Land Registry?

A

It depends on the deed being signed but the Land Registry is becoming more accepting of E-sigs since COVID. Practice guide 82 on the Government website provides a table showing which documents can use an e-signature currently.

35
Q

What AVMs are you aware of?

A

Hedonic pricing models - uses historical sale data and analyses internal characteristics of properties.

Automated Mass Appraisal Models - Gov agencies and tax assessors rely on these models to assess value of multiple properties in given area.

36
Q

What are some disadvantages of AVMs?

A

-market volatility, models may not adjust quickly to judge this.
-Complex properties with unique features.
-Regulatory compliance.

37
Q

Is there any RICS guidance related to Automated Valuation Models?

A

RICS Insight Paper - Automated Valuation Models: Implications for the profession and their clients (April 2022)

38
Q

What does the RICS insight paper on AVMs mention?

A

Mentions the risks of AVMs such as uncertainty in dealing with market adjustments.
Remains unclear where AVMs are being used if they are within standards framework and whether liability and assurance is provided.
States a need for RICS to recognise new AVM landscape and ensure there is appropriate training, CPD and standards to reflect this market change.

39
Q

Explain the growing use of AVMs in the industry?

A

Provides easy access to an instant market value that individuals may use to market their property or for other property requirements.

40
Q

What do you understand by the Civil Evidence Act 1995?

A

States that hearsay evidence in a court setting is inadmissible.

41
Q

What does data redundancy mean?

A

Where the same piece of data exists in multiple places.

42
Q

What is a pivot table?

A

Quick way to summarise large amounts of data.

43
Q

What is Qube?

A

A real estate software application.

44
Q

What are the benefits of using Qube?

A

Able to streamline processes.
Handles data management and allows for easy financial reporting.
Can link with Outlook and Excel.

45
Q

With WIP, how did you ensure good data security?

A

I used password encryption and did not store on Sharepoint. The file was not shared with anyone else at my firm and I only shared the password with my client.

46
Q

How do you comply with GDPR when providing comparables for a valuation report?

A

Don’t include any personal details within comparables. E.g. AST names. Use term ‘ Private Individuals’ instead. If including any documents with personal details, block out the names.

47
Q

Give me an example of how you process and handle confidential information?

A

In the past I have received ASTs with personal information on them, such as names, addresses, etc. I redact this information before saving it on file as it is not required for the instruction.

48
Q

What does the Limitation Act 1980 do?

A

Sets out the time period for claimants to file negligence claims.

49
Q

What are special categories of personal data?

A

Race/Ethnic Origin
Political/religious/philosophical beliefs
Trade union membership
Genetic/health and biometric data
Sex life/Sexual orientation

50
Q

What are the 7 key principes of the UK GDPR DPA 2018?

A

Lawfulness, fairness and transparency
Purpose limitation
Data minimisation
Accuracy
Storage Limitation
Integrity and confidentiality
Accountability

51
Q

What does ‘purpose limitation’ mean?

A

Data collected for specified, explicit and legitimate purposes.

52
Q

What does ‘data minimisation’ mean?

A

Data collected is adequate, relevant and limited to what is necessary in relation to which data is being processed.

53
Q

What does ‘storage limitation’ mean?

A

Data kept in form that permits identification for no longer than necessary.

54
Q

Can copyright be transferred?

A

Yes, copyright can be assigned but this must be done via signing of a document.

55
Q

How is data collected?

A

Published sources of information
Market reports
Internal databases
Historical records
Inspections

56
Q

You mention that in due diligence searches information is stored in your company’s internal property filing system. How is information saved on this system kept secure?

A

All data stored on sharepoint is encrypted. You can also decide who is able to view the document.

57
Q

What does block chain mean?

A

A distributed database that records transactions between parties without needing 3rd party authentication.

58
Q

What is ISO 9001?

A

Quality Management Standard

59
Q

What are the requirements of ISO 9001?

A

Some requirements:

  • Measuring equipment calibration records
    -Records of training, skills, qualifications
    -Records about customer property
    -Internal audit programs and results
    -Results of management review
60
Q

Why is quality management important?

A

Helps companies improve their service, reliability, durability and performance.

61
Q

What does ISO 27001 relate to?

A

International standard for information security. In summary, establishes framework for orgs to identify info security risks and select appropriate controls to tackle them.

62
Q

What records are manually kept in your office and why?

A

Company encourages all files to be kept electronically. Any historic files needed for a job are to be scanned onto our electronic system, sent back to archive or destroyed when the instruction and the retention period are finished.

63
Q

What is an index map?

A

In relation to property, the Land reg use index maps that contain info for all land and property registered with them.

64
Q

Why is it important to set leases up onto your management system?

A

Once the lease was set up, regular rental, service charge and insurance payments could be easily collected for the tenants.

Additionally, a tenancy schedule would automatically update and confirm if a tenancy was nearing review, break or expiry.

If tenancy was outside the act, important that you stopped payments after expiry date so as not to effectively grant security of tenure.

65
Q

Adv and Disadv or Sharepoint?

A

Adv:

Integration with microsoft applications.
central storage for files.
detailed document management

Disadv:

Difficult to set up
Expensive
training required for employees.

66
Q

What is a drawback for making a password for excel?

A

Password encryption may limit file’s performance if file includes large data set.

67
Q

What are the security risks of using Excel rather than a CRM system?

A

Data normally served locally rather than saved securely on cloud. Cloud servers more secure as they are protected by more security.

68
Q

How does your use of Alcium as a CRM system comply with DPA 2018?

A

All information inputted is necessary.
All contact details inputted allow individuals to unsubscribe and erase them if required.

69
Q

What are some duties of the DPO?

A

Inform and advise org about their data protection obligations.
Monitor compliance and provide data protection management, training and auditing.
Be first point of contact for both supervisory authorities and data subjects of the org.

70
Q

What is thr ICO and what do they do?

A

Information Commissioner’s Office an independent authority set up by Gov to uphold data rights in public interest.

71
Q

Talk me through the WIP spreadsheet and how this enables you to better advise your client?

A

Spreadsheet included 3 categories; instructed, ongoing and on hold.

When presenting the WIP to my clients monthly I would make sure each instruction was in the right category and include updated details such as new terms proposed, comments on what I required from my clients to progress the deal and if there are any delays from the other side.

72
Q

Talk me through an example where you have used a data management system to assist you in providing advice to your client?

A

In Littlehampton I compiled comparable rental evidence from various sources into 1 schedule. If evidence was obtained via 3rd party I made sure to confirm it with the primary source.

Once data was collected I was able to analyse and advise my client that the subject property could achieve an uplift at the rent review.

APC Commercial (17 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions